cancel order

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Cancel Order

An instruction from an investor to a broker to cancel a previously made order that has not yet been filled. Cancel orders are made when an investor changes his/her mind about making a transaction and decides to make a different one or none at all. It is important to issue a cancel order, especially when the replacement transaction involves the same security. Otherwise, the broker may fill both orders, perhaps resulting in a loss.

cancel order

A customer order to a broker that cancels an earlier, unfilled order given by the customer.
References in periodicals archive ?
The countermanding resulted in Prachanda's resignation May 4 after coalition partners backed Yadav and pulled out from the coalition government.
A spokesman for the Insolvency Service said: ``The countermanding of cheques procured the supply of goods to Hi-Tech proffering cheques in payment in circumstances where there was no likelihood that the cheques would be met on presentation.
Amritsar, May 15 ( ANI ): Former Punjab chief minister and Congress candidate for Amritsar Captain (retired) Amarinder Singh has warned the Election Commission of India about the possibility of Akali-BJP leaders and workers tampering with the vote counting process that could lead to the countermanding of counting.
After a few days, Khamenehi issued an order countermanding Ahmadi-nejad's order.
The countermanding resulted in Prachanda's resignation May 4 after coalition partners backed President Ram Baran Yadav and pulled out from the coalition government.
Ranchi, Apr 5 ( ANI ): The Jharkhand High Court has directed the Election Commission to initiate a Central Bureau of Investigation (CBI) probe into the circumstances, which led to the countermanding of Rajya Sabha polls in the state.